Zac: Don, what makes you good? Investors who take an interest in Mainfreight Limited ( NZSE:MFT) should definitely note that the Group MD & Director, Donald Braid, recently paid NZ$74.61 per share to buy NZ$500k worth of.
Q&A with Mainfreight's Don Braid - Business Changing Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys High School and has over 30 years experience in freight forwarding and logistics both New Zealand and internationally. He has led the company in strengthening its global logistics business and ensuring an increased diversification of revenue streams across many countries, trade lanes and activities provides We will probably go back to normal but be ready to adapt, be flexible and look after your people theyll bring the answers to the table for you on what your business will look like in the future. [13] The transaction was completed on 6 June 2007. Don Braid has been with freight and logistics company Mainfreight since 1994, after joining the firm as part of the acquisition of Daily Freightways (where he had been for 16 years). Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. What have we got right? In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. [8], Headquartered in 's-Heerenberg, The Netherlands, Wim Bosman is privately held and operates more than 1,000 transport units, manage more than 275,000m2 of cross-docking facilities and warehouse area, and employ roughly 1,414 staff within 14 branches located in The Netherlands, Belgium, France, Romania, Poland, and Russia. Some of the leading players in the listed retirement sector have been raising capital. On the Money: Tim Boyd he's back; James Lee he's leaving, and more New drugs could end the worlds obesity epidemic, Big plus for NZ schools and govt agencies, Growing wealth through our cities growth, Insurers call on government to seize the day, Smoke, mirrors and delay Nationals three waters policy, Former CentrePort CEO Liz Ward joins KiwiRail board. So we are developing our people to be the best they possibly can be. Zac: Don, having a decentralized business, whats been your approach to leadership? Hes the right man for the job at just the right time.
Breakfast with Don Braid, Mainfreight Ltd | IoD NZ Id also be really focused on being in touch with customers. You cant see yourself as an employer of 8500 people. Chief executive, Kiwibank "We need to try and paint the picture around Mainfreight here and what Mainfreight is, that to me is of more interest than whether I like rugby or cricket. Not bad for a Kiwi trucking company! But the excitement is justified. How are we changing the business accordingly? Read More . Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. What do those customers look for from us? Thats the key. I believe that I shouldnt ask my colleagues/work mates/ team to do any task I would not do myself or know how to do. As you get bigger, staff engagement and culture becomes more difficult. The long-term effects must be carefully studied. Subscribe, 0.1 The Four Pillars of Governance Best Practice, 0.3 Corporate governance landscape in New Zealand, The second pillar - An effective governance culture, 2.3 Board architecture a charter for the board, 2.4 Board composition and succession planning, 2.5 Key competencies for non-executive directors, 3.6 Technology and information governance, 3.11 Employees holding external directorships, 4.4 Director shareholdings and insider trading, 4.16 The company secretary or corporate officer, Breakfast with Don Braid, Managing Director of Mainfreight Ltd. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Appointment to Board 2000 - With Mainfreight since 1994. Will His AI Plans Be Any Different?
Don Braid - newzealandinc.com So it looks like Mainfreight compensates Don Braid in line with the median for the industry. And I suppose the key thing that we had in our mind was how are we going to run this business to survive and not make anybody redundant. Will be fundamentally different from the last one. Youve got to have good outlets. We were lucky enough to have a really incredible chat with Mainfreight CEO Don Braid about what he has learnt as the CEO of Mainfreight. Well in Europe they had these time clocks. Your Saturday Briefing: Trumps Comeback Plan, Wall Street Whistles Away, Londons Investment Appeal Is Unraveling as Arm Heads to the US, British Parents Turn to Home Equity to Help Young Buy Property, Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers, Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows, Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, Ex-Goldman Banker Ordered to Forfeit $43.7 Million Over 1MDB Bribery Fraud, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. It remains a very exciting journey., Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for, Well known for his mental and physical toughness, Braid is often seen working out at The Atrium Club in downtown Auckland, which offers real world fitness for men. His sartorial style was also recognised in 2006 when he was judged the national winner of the. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . In 2008, the United States locations were re-branded as Mainfreight USA.
Mainfreight declares flat dividend, hands back $11m wage subsidy What are the things you do that maybe others dont do that actually make you lead this organization? Is our service or a product still current? Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? The firm's shares have been one of the best performing stocks on the NZX, returning more than 20 per cent in the year to date. Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. To trust your people too, to give them the responsibility. Musk Made a Mess at Twitter. I think our owner drivers are a key component of the relationship with the customer. So each person can earn some more money by not just making profit, but keeping customers happy, keeping claims to a lower amount, making sure were collecting cash, making sure that were delivering freight in full and on time but the base bonus, everybody gets the same amount no matter whether youve been there for one year or for 40 years and no matter what your position is. Filed Under: Blog, Business coaching, Motivation coming at ya, What a great interview and there are many excellent points which the Mainfreight CEO covered like Empathy which is essential when supporting all those involved in Mainfreights success and another dealt with the importance of making sure all invoices are paid on time. Zac: Lets talk more about those weekly P&Ls. Part of our recruitment process is to get them to go through the system and learn the business from the floor up: you start by pushing a broom or running documents to Customs. He's got plenty of charm if he wants to have it and his leadership skills just stand out - people want to stand next to him.". Theyll have the Mainfreight culture, but itll have a little twist for example, the culture in Shanghai is different to the culture in Newark or the Netherlands or Sydney. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. Other Current Directorships: Member of the CFO Advisory Board, Auckland University Business School, Member of the Board of Trustees of Dress for Success Incorporated, and private family companies.
Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Kiwis know the firm largely through its blue trucks that ply our highways, but the company also utilises sea, train and air freight to transport goods around the world. Engage via Email. The price of the rights fell as low as 7.5 cents on the last day of trading. The NZ team, who had really done a great job through the Kaikoura and Christchurch earthquakes, quickly put together a plan on how to react. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Out of that, I think weve got the culture really starting to develop. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. [4] This operation was expanded with depots in Melbourne and Brisbane. In his results commentary, Braid said the results were pleasing in light of initial supply chain disruptions during the early part of the year, on the back of lockdowns in response to the global pandemic. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. This endeavor launched the first permanent investment into South America. Don: I think its quite a long way off. I will definitely be following the Mainfreight progress closely for when I return to NZ. enter your email and well send you details. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. But, he said, the groups response at the outset of the pandemic had been unequivocal. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Rob Fyfe So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? "I don't think any of those things are really of interest to this," he says. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Insurers support an immediate managed retreat for recent flood victims. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border. We would meet with them once a week and theyd share what theyd discovered and what they hadnt discovered and wed give them some guidance but then get out of their way and let them get on with the job. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own name, which reveals to us that they have a significant personal stake in the company. Leading reputation management consultant Noke Kiroyan says it is perfectly possible although not always easy to run a business in Indonesia without resorting to corrupt behaviour. I might get a little bit wound up about stuff, a bit passionate about things, but I think you cant get so involved that you think about nothing else. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Then we just sat back and allowed the de-centralized process to take over and allowed people to take responsibility to get their businesses sorted and in line.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments.
Director Profiles | New Zealand - Mainfreight Hamish. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Well known for his mental and physical toughness, Braid is often seen working out at The Atrium Club in downtown Auckland, which offers real world fitness for men. His sartorial style was also recognised in 2006 when he was judged the national winner of the NBR Working Style Best Dressed Businessman Awards. They love this as it makes them feel supported and that I understand their role. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. With well-established locations that include China, Hong Kong, Taiwan, Malaysia, Thailand, Vietnam, Singapore, Japan and Korea, the Mainfreight global network continues to expand year over year. That was uppermost in our mind. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. While many companies have been battening down the hatches this year, Mainfreight has been on the acquisition trail - purchasing a Netherlands-based freight business which operates in Belgium, France, Romania and Poland and Russia. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Don: Well, the numbers never lie, right? So weve got eight and a half thousand people and 282 locations. This article by Simply Wall St is general in nature. He is an outstandingly consistent and capable chief executive. Don Braid's Phone Number and Email Last Update. It has been listed on the New Zealand Exchange since 1996. Its the individuals responsibility to arrive on time and stay until the jobs finished. Shareholders would be glad to know that the company has improved itself over the last few years. "It's not about what I've done - it's about what we've done and what the business has done," he says. CEO compensation can have a massive impact on performance, but it's just one element.
Mainfreight founder says bonuses help solve inequality and - Stuff On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. We offer lots of training as well, internally and externally. So everything that we do is about being here for a long time. Copyright 2023 Institute of Directors That means a lot of travel, but the reality is I thought my skills were best used in front of a customer so thats what I focused on. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. We have been monitoring government updates regarding COVID-19 and are keeping up to date with Ministry of Health guidance with regard to events and public gatherings. You may withdraw your consent at any time. After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. I learned that early in the piece and I think its stood me in good stead. What else do we need to do to satisfy that bunch of customers? Don: The recruitment of our people sits with the branch managers. [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. By the way, its not just about us seeing those numbers. For me its being in the business, with people and in particular with customers. [9], Within its announcement, the Mainfreight sad, "Wim Bosman is a well respected, profitable organisation which will provide Mainfreight with a significant European presence and opportunity to further grow its supply chain logistic services throughout the world. Mainfreight managing director Don Braid. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. Don has led the Mainfreight team through a significant period of change and expansion to become the successful global supply chain logistics provider it is today, operating in 26 countries around the world, with $3+ billion in sales revenue, and he leads a team of 9,240 passionate Mainfreight people all around the world. Im always exploring those opportunities and may be experimenting in particular regions or with particular customers before implementing that across the rest of the business. Previously, Don was a Political Columnist at Calgary Herald. Youve got to think about that as small groups of people looking after our customers and each group is important in their own right and theyll have their own little traits. Don: With this event in front of us right now, I think cash is king, and the collection of cash. Privacy policy Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. Weve needed to adjust, particularly in the international sector, air freight charters rather than just normal air freight our people had never had any experience in chartering a full plane. FINALIST He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. If our team on the dock is seeing poor decision-making thats eroding profitability, they will suffer because they share that profit so there comes internal pressure just as much from them as there is from us, looking at how the business is progressing. Simon has a long association with Mainfreight having served as the Companys main adviser for acquisitions, debt structure and other matters since 2003 (through Grant Samuel & Associates), prior to joining the Mainfreight Board. He attributed the. Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). COVID-19 has had a significant impact on freight and supply chains worldwide. The multinational logistics and transport group announced a year end dividend of 45 cents a share, taking the full dividend for the year to 75c, up 27% on the prior year. Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers.